William Blair analyst Jed Dorsheimer has reiterated their bullish stance on BWXT stock, giving a Buy rating today.
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Jed Dorsheimer has given his Buy rating due to a combination of factors that highlight BWX Technologies’ strong position in the nuclear sector. The company reported a robust quarter with a book-to-bill ratio of 2.6 and a record backlog of $7.4 billion, indicating strong demand and future revenue visibility. These financial metrics, coupled with BWXT’s strategic acquisitions of Kinectrics and A.O.T., bolster its competitive moat in the nuclear ecosystem.
Additionally, BWXT is poised to benefit from significant opportunities in the nuclear industry, such as the anticipated construction of eight new CANDU reactors in Canada, representing a $4 billion market opportunity. The company’s involvement with various SMR projects further strengthens its growth prospects, as it supplies critical components to major players like GE Hitachi and Rolls-Royce. Furthermore, the potential for additional contracts with Westinghouse, supported by substantial government funding, adds to the optimistic outlook for BWXT. These factors collectively underpin Dorsheimer’s Buy rating, suggesting that investors should consider accumulating shares during periods of volatility.
Dorsheimer covers the Technology sector, focusing on stocks such as Axcelis Technologies, SolarEdge Technologies, and ON Semiconductor. According to TipRanks, Dorsheimer has an average return of 31.6% and a 53.21% success rate on recommended stocks.
In another report released today, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a $244.00 price target.